Beaufort Academy Inc

Analysis

Beaufort Academy Inc is a registered charity in United States, based in Beaufort, SC. It received its IRS tax-exemption ruling in November 1976, 50 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Beaufort Academy Inc reported income of $5.0m and spending of $4.9m, spending 99% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $3.3m to $5.0m (+51%), an average of +11% a year. The sharpest change came in the year to June 2021, when income rose by 77%. Over the whole period it spent 102% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Beaufort Academy Inc sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 94th percentile within SC. Charities of a similar size with the same main cause include Massachusetts Charter Public School Association Inc ($5.0m), Riverside Academy Inc ($5.0m) and Art and Science Academy Inc ($5.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 5.7% and program service revenue 89% of the total. Compensation of current officers, directors and key employees was $134k (2.7% of expenses). Other salaries and wages came to $1.7m. At year end it held assets of $4.5m against liabilities of $3.4m, net assets of $1.1m. It reported 110 employees.